Pakistan, Kuwait agrees to boost economic cooperation


Karachi: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday asked Kuwaiti government and the business community to boost economic cooperation with Islamabad to help overcome Pakistan overcome energy crisis and other problems.

Pakistan and Kuwait and natural allies that have always supported each other in difficult times and all the international forums, therefore they should try to forge stronger linkages, said President FPCCI Zubair Ahmed Malik.

Speaking to a high-powered delegation of Kuwaiti investors, he said that Kuwait should support mega energy projects and invest in up-gradation of the existing projects as energy crisis has slowed our economy. He said that Kuwait should use Gwadar port as a gateway to central Asian states to enhance its presence and trade in the unexplored region.

Pakistani traders as well as labourers should be given relaxations in visas so that they can work with peace of mind, earn with dignity, and help their country, said Zubair Ahmed Malik.

The FPCCI President said that the private sector of both countries should explore commercially feasible joint ventures in oil and gas, agriculture, mines and halal meat sectors.

Government of Kuwait should boost investment in Pakistan through Kuwait

Fund for Arab Economic Development and Kuwait Investment Authority, he demanded, adding that Kuwaiti private sector should enhance imports from Pakistan to balance the bilateral trade.

He said that participation on war on terror has created image problems for Pakistan but we are overcoming it, adding that trade is the best way to contain this war in the region.

Zubair Ahmed Malik said that Pakistan is safe for investment and it offers matchless opportunities for foreign investors. Ministries of Petroleum, Commerce, Board of Investment and PPIB are facilitating foreign investors to their best, he observed.

He emphasised the need for regular high level exchanges, including that of business community and parliamentary delegations.

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